Blackstone’s new data center real estate investment trust raised $1.75B in its U.S. stock market debut Thursday, with underwriters able to consider raising the proceeds of its initial public offering an additional $250M.
Blackstone Digital Infrastructure Trust is targeting the acquisition of newly built data centers occupied by hyperscalers and valued between $250M and $1.5B, Bloomberg reported. The REIT sold 87.5 million shares at a fixed price of $20 per share.
Underwriters of the REIT have 30 days from the IPO to lift the proceeds it can raise to $2B, Seeking Alpha reported.
Blackstone has identified around $25B in potential near-term data center…